Balancer token holders voted to wind down the protocol, with 99.2% of votes supporting the BIP-928 proposal. The platform will operate normally until October 30, allowing users to withdraw funds. After this date, pools will transition to a withdrawal-only mode, and the bug bounty program will conclude.
Partners may request an extension for specific v3 pools until October 16, allowing them to operate until November 30. Since the protocol is non-custodial, users will retain the ability to withdraw assets indefinitely. The treasury, valued at approximately $9 million, will be distributed to BAL holders starting in May 2027.
The decision follows a decline in protocol revenue, which dropped from $97,000 in June to $30,000 in August. The project also faced significant financial strain from a November 2025 hack that resulted in losses of $128 million. Former CEO Marcus Hardt estimates a payout of $0.16 per BAL token.
Separately, the Abracadabra protocol is considering a shutdown due to a deficit in collateral for its MIM stablecoin. Liabilities are estimated at $21 million against $1.2 million in remaining collateral. If approved, assets will be converted to ETH, potentially yielding $0.04 per MIM token.
